RECOMMENDED!!Computing the Credit for Child and Dependent Care Expenses

  

Computing the Credit for Child and Dependent Care ExpensesDabney and Nancy are married, both gainfully employed, and have two children who are 3 and 6 years old. Dabney’s salary is $35,000 while Nancy’s salary is $40,000. During the year, they spend $7,000 for child care expenses that are required so both of them can work outside of the home.Calculate the credit for child and dependent care expenses.

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